Nebraska Revenue Forecasting Board

The board provides an advisory forecast of general fund receipts that is used by the legislature to craft the state s budget.

Nebraska revenue forecasting board. The comparisons in this report are based on the forecast made by the nebraska economic forecasting advisory board board on april 25 2019. The state s revenue forecasting board lowered projections of state tax revenues by about 50 million for the current fiscal year around one quarter of the reduction expected. The three year total predicted by the nebraska economic forecasting advisory board is an increase of 710 5 million or 605 million after transfers to the state s rainy day fund and minimum reserve. The nebraska economic forecasting advisory board voted to raise revenue projections for the current fiscal year during an oct.

Nebraska s revenue forecasting board has raised estimates on what the state can expect in sales income and miscellaneous taxes in the current and next two fiscal years. The nebraska economic forecasting advisory board voted to raise revenue projections for the current fiscal year during an oct. The board provides an advisory forecast of general fund receipts that is used by the legislature to craft the state s budget. Nebraska s revenue forecasting board has raised estimates on what the state can expect in sales income and miscellaneous taxes in the current and next two fiscal years.

Nebraska tax revenue will likely dip below earlier projections because of the coronavirus but the state s budget picture won t be as bad as previously expected a state board predicted thursday. The three year total. This forecast was adjusted for legislation passed in 2019 divided into monthly estimates and certified to the clerk of the legislature by the tax commissioner and legislative fiscal analyst on july 8 2019. 26 meeting at the capitol.

26 meeting at the capitol. The nebraska economic forecasting advisory board met today and increased the forecast for the expected tax revenue the state will receive during the 2020 2021 fiscal year. Their estimates will reduce the amount of revenue available to lawmakers this year by 48 5 million from 138 6 million down to 90 1 million. While this was one of the regularly scheduled meetings this meeting had a completely different mood and focus due to the uncertainty surrounding the pandemic and recent legislative changes.